2. Credit Helen Meisler for this chart showing vix put/call and S&P 500

7. DEFINITION of 'Purchasing Power Parity - PPP' An economic theory that estimates the amount of adjustment needed on the exchange rate between countries in order for the exchange to be equivalent to each currency's purchasing power. If a U.S. $1 brings 1.50 Canadian, the $1 Snickers bar should cost $1.50 in Canada.

9. Yesterday also delivered more evidence to support the Eurozone reflation thesis. May’s CPI reading rose to 0.3%, its first positive reading for six months, while the core measure climbed to 0.9% from 0.6%. Bond investors sold off, since record low yields start to look dangerous against rising prices, especially as German unemployment just recorded a 24 year low.